The post XRP Expands Into Solana and Ethereum Ecosystems: Here’s How appeared on BitcoinEthereumNews.com. XRP is set to expand beyond its native network after HexThe post XRP Expands Into Solana and Ethereum Ecosystems: Here’s How appeared on BitcoinEthereumNews.com. XRP is set to expand beyond its native network after Hex

XRP Expands Into Solana and Ethereum Ecosystems: Here’s How

2025/12/12 15:55

XRP is set to expand beyond its native network after Hex Trust announced plans to issue and custody wrapped XRP (wXRP). This 1:1-backed representation of XRP will operate across major blockchains, including Ethereum and Solana.

The initiative introduces a pathway for one of the top five digital assets by market size to access cross-chain DeFi applications. It extends XRP’s utility beyond the XRP Ledger into broader on-chain financial activity.

XRP is Coming To Solana, Ethereum, and More

According to the press release, each wXRP will be fully backed by native XRP held in segregated custody at Hex Trust. Minting and redemption will be available to authorized participants in a compliant environment.

Sponsored

Sponsored

wXRP will launch with more than $100 million in Total Value Locked. This will provide immediate liquidity and support stable market activity from day one. The wrapped asset uses LayerZero’s Omnichain Fungible Token standard, enabling multi-chain participation.

wXRP extends XRP’s DeFi reach. It enables the asset to be usable on major blockchains, starting with Solana, Optimism, Ethereum, and HyperEVM. Hex Trust revealed that additional networks will follow.

The wrapped token allows users and institutions to participate in cross-chain activities. This includes swaps and liquidity provision through a regulated framework.

Since each wXRP is fully backed and redeemable for native XRP, it supports users to move between blockchains without relying on unregulated third-party bridges. This, in turn, reduces counterparty exposure.

Markus Infanger, SVP of RippleX, stated that there is a growing demand to utilize XRP across the broader cryptocurrency ecosystem and among institutions, and that Hex Trust is addressing this demand. He added that,

Nonetheless, the announcement had little positive impact on the price of XRP. BeInCrypto Markets data showed that the altcoin rose by just over 1% in the past 24 hours, largely in line with a broader market recovery. At the time of writing, XRP was trading at $2.04.

XRP Price Performance. Source: BeInCrypto Markets

The muted price reaction was not limited to this development. XRP has also struggled to benefit from the success of spot exchange-traded funds (ETFs) or Ripple’s broader expansion efforts.

Source: https://beincrypto.com/xrp-ethereum-solana-utility-expansion/

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Aave DAO to Shut Down 50% of L2s While Doubling Down on GHO

Aave DAO to Shut Down 50% of L2s While Doubling Down on GHO

The post Aave DAO to Shut Down 50% of L2s While Doubling Down on GHO appeared on BitcoinEthereumNews.com. Aave DAO is gearing up for a significant overhaul by shutting down over 50% of underperforming L2 instances. It is also restructuring its governance framework and deploying over $100 million to boost GHO. This could be a pivotal moment that propels Aave back to the forefront of on-chain lending or sparks unprecedented controversy within the DeFi community. Sponsored Sponsored ACI Proposes Shutting Down 50% of L2s The “State of the Union” report by the Aave Chan Initiative (ACI) paints a candid picture. After a turbulent period in the DeFi market and internal challenges, Aave (AAVE) now leads in key metrics: TVL, revenue, market share, and borrowing volume. Aave’s annual revenue of $130 million surpasses the combined cash reserves of its competitors. Tokenomics improvements and the AAVE token buyback program have also contributed to the ecosystem’s growth. Aave global metrics. Source: Aave However, the ACI’s report also highlights several pain points. First, regarding the Layer-2 (L2) strategy. While Aave’s L2 strategy was once a key driver of success, it is no longer fit for purpose. Over half of Aave’s instances on L2s and alt-L1s are not economically viable. Based on year-to-date data, over 86.6% of Aave’s revenue comes from the mainnet, indicating that everything else is a side quest. On this basis, ACI proposes closing underperforming networks. The DAO should invest in key networks with significant differentiators. Second, ACI is pushing for a complete overhaul of the “friendly fork” framework, as most have been unimpressive regarding TVL and revenue. In some cases, attackers have exploited them to Aave’s detriment, as seen with Spark. Sponsored Sponsored “The friendly fork model had a good intention but bad execution where the DAO was too friendly towards these forks, allowing the DAO only little upside,” the report states. Third, the instance model, once a smart…
Share
BitcoinEthereumNews2025/09/18 02:28
Eigen price spikes 33% as EigenLayer leads fresh altcoin rally

Eigen price spikes 33% as EigenLayer leads fresh altcoin rally

The post Eigen price spikes 33% as EigenLayer leads fresh altcoin rally appeared on BitcoinEthereumNews.com. EigenLayer price hovered around $2.03, up by 33% after breaking to highs of $2.09. The US Securities and Exchange Commission’s move to approve a rules-based listing standard buoyed altcoins. EIGEN price also gained as the Fed cut interest rates, EigenLayer (EIGEN) is surging. Its price hovers near $2.03, currently up by 33% in 24 hours as a broader rally boosts altcoins. The cryptocurrency market is witnessing a notable resurgence amid the Federal Reserve’s monetary policy decision and a key regulatory win for altcoins. EigenLayer price jumps 33% to retest key level As most altcoins posted minor gains in early trading on Thursday, EigenLayer’s EIGEN token experienced a dramatic 33% price increase. The EIGEN token climbed from lows of $1.50 to hit highs of $2.09, with the sharp uptick marking a significant continuation following a breakout of a descending triangle pattern. Some catalysts of the uptick include partnerships and integrations, regulatory developments and macroeconomic indicators. For instance, on September 17, 2025, the US Securities and Exchange Commission approved generic listing standards for commodity-based trust shares. It means the regulator is adopting a rules-based approach that will streamline the approval process for exchange-traded products on platforms like the NYSE, Nasdaq, and Cboe Global Markets. BOOM: SEC has approved the generic listings standards that will clear way for spot crypto ETFs to launch (without going through all this bs every time) under ’33 Act so long as they have futures on Coinbase, which currently incl about 12-15 coins. pic.twitter.com/E9FXrniXRS — Eric Balchunas (@EricBalchunas) September 17, 2025 EIGEN gained ground as the Federal Reserve’s rate cut supported broader risk sentiment, while optimism has also been fueled by EigenLayer’s recent partnership with Google. In the past 24 hours, trading in the protocol’s native token surged, with volumes topping $427 million — a 260% jump alongside…
Share
BitcoinEthereumNews2025/09/18 17:43